80 per cent returns in 1 year: Heavy buying witnessed in this penny stock below Rs 25!
The scrip witnessed a massive spurt in volume by more than 3.22 times.
On Wednesday, shares of Dhanlaxmi Bank zoomed more than 15 per cent to trade at an intraday high of Rs 22.42. The scrip witnessed a massive spurt in volume by more than 3.22 times.
Dhanlaxmi Bank experienced significant growth in the March 2023 quarter, supported by a notable decrease in provisions and further enhancements in asset quality. The bank achieved a net profit of Rs 38.2 crore in Q4FY23, marking a 63.3 per cent increase compared to a net profit of Rs 23 crore in the corresponding quarter of the previous year.
The net interest income (NII), representing the difference between interest earned and expended, surged by 19.5 per cent to Rs 115.2 crore in Q4FY23, surpassing the NII of Rs 96.4 crore recorded in the March 2022 quarter. As for the gross non-performing assets (NPA), its value in Q4FY23 stood at Rs 511.14 crore, a decline from Rs 533.54 crore in the Q4 of the previous fiscal year and Rs 539.11 crore in the previous quarter.
DSIJ offers a service 'Tiny Treasure' with recommendations for small-cap stocks based on research and analysis to help subscribers make informed investment decisions. If this interests you, then do download the service details pdf here
Dhanlaxmi Bank Ltd was Incorporated in 1927 in Thrissur, Kerala is a publicly held banking company engaged in providing a wide range of banking and financial services including retail banking, corporate banking, and treasury operations with a major concentration in Southern states.
The stock has witnessed significant buying activity as it has zoomed more than 80 per cent in just 1 year. Moreover, the stock has zoomed more than 40 per cent in the last 3 months. Keep a close eye on this trending banking stock.